Section 49 of The Multi-State Co-operative Societies Act, 2002
- (1)The board may exercise all such powers as may be necessary or expedient for the purpose of carrying out its functions under this Act.
- (2)Without prejudice to the generality of the foregoing powers, such powers shall include the power--
- (a)to admit members;
- (b)to interpret the organisational objectives and set up specific goals to be achieved towards these objectives;
- (c)to make periodic appraisal of operations;
- (d)to appoint and remove a Chief Executive and such other employees of the society as are not required to be appointed by the Chief Executive;
- (e)to make provisions for regulating the appointment of employees of the multi-State cooperative society and the scales of pay, allowances and other conditions of service of, including disciplinary action against such employees;
- (f)to place the annual report, annual financial statements, annual plan and budget for the approval of the general body;
- (g)to consider audit and compliance report and place the same before the general body;
- (h)to acquire or dispose of immovable property;
- (i)to review membership in other co-operatives;
- (j)to approve annual and supplementary budget;
- (k)to raise funds;
- (l)to sanction loans to the members; and
- (m)to take such other measures or to do such other acts as may be prescribed or required under this Act or the bye-laws or as may be delegated by the general body.
Summary
- The board has the authority to exercise all powers necessary or useful to carry out its functions under the law.
- The board can admit members and elect its own leadership, including the Chairperson, Vice-Chairperson, President, or Vice-President, from its elected members.
- The board appoints and removes the Chief Executive and other key employees whose appointment is not delegated to the Chief Executive.
- The board is responsible for creating rules for hiring, paying, and disciplining staff, subject to prescribed procedures.
- The board must prepare and present budgets, annual reports, financial statements, and audit reports for the general body to approve.
- The board is empowered to buy or sell real estate, raise funds, review memberships in other co-operatives, and sanction loans to members.
Practical examples
FAQ
1. Who has the power to admit new members under Section 49 of the Multi-State Co-operative Societies Act?
Under Section 49 of the Multi-State Co-operative Societies Act, the board of directors has the express power to admit new members to the society.
2. Can the board buy or sell land or buildings under Section 49 of the Multi-State Co-operative Societies Act?
Yes, under Section 49 of the Multi-State Co-operative Societies Act, the board of directors has the power to acquire or dispose of immovable property, which includes land and buildings.
3. Who issues the certificate of election after the board elects its Chairperson under Section 49 of the Multi-State Co-operative Societies Act?
Under Section 49 of the Multi-State Co-operative Societies Act, the Chief Executive of the society issues the certificate of election after the board concludes its election resolution.
4. Is the board allowed to sanction loans to its members under Section 49 of the Multi-State Co-operative Societies Act?
Yes, under Section 49 of the Multi-State Co-operative Societies Act, the board of directors is empowered to sanction loans to the members of the co-operative.
Test yourself
Q1.Under Section 49 of the Multi-State Co-operative Societies Act, 2002, which of the following is an administrative officer appointed and removed directly by the board?
Q2.Under Section 49 of the Multi-State Co-operative Societies Act, 2002, what is the role of the Chief Executive regarding the election of the society's Chairperson by the board?
Q3.Under Section 49 of the Multi-State Co-operative Societies Act, 2002, which of the following documents must the board present to the general body for its final approval?
Q4.Under Section 49 of the Multi-State Co-operative Societies Act, 2002, whose directions must the board follow when electing the Chairperson and Vice-Chairperson from among its elected members?